Proparco signed a €90 million loan (BRL 342 million) to Enel Green Power to finance the 254MW Ituverava photovoltaic solar power plant. This solar park, South America’s second largest, is located in the municipality of Tabocas do Brejo Velho in the State of Bahia and will be able to generate over 550GWh a year.
Proparco has invested US$100m in Amundi Planet – Emerging Green One, an investment fund created jointly by the International Finance Corporation (IFC), a World Bank subsidiary, and French asset management firm Amundi. The fund’s brief is to invest in “green bonds” to be issued by financial institutions in emerging and developing countries over the next seven years. US$1.2bn have already been committed to this new fund, making it the largest green bond fund operating in those geographies. With its US$100m contribution, Proparco will be taking its place alongside the IFC as a primary source of financing for the fund.
Proparco is investing in the new IPAE2 impact fund in support of African SMEs, particularly in fragile countries.
Proparco is renewing its partnership with I&P by investing €7 million via FISEA* in the new “Investisseurs & Partenaires Afrique Entrepreneurs 2” fund (IPAE2).
With €6.9 billion in climate finance, EDFIs are helping the private sector scale up the fight against climate change
Two years after the Paris Agreement set ambitious climate objectives for the international community, funding remains an important bottleneck to the fight against climate change. The One Planet Summit that will take place in Paris on December 12th intends on building a new momentum and to align public and private actors to bridge the financing gap.
After Paris, Abidjan and Johannesburg, Proparco celebrated its 40th anniversary in São Paulo where its regional office has been financing development projects since 2007.
Between 11 and 14 November, Proparco took part in FELABAN, the Latin American banking sector’s standout annual event. Proparco marked the occasion by renewing its partnership with the Promerica bank via a $US 20 million line of credit to support the development of Costa Rican SMEs. These are the country’s economic lifeblood (i.e., SMEs represent 90% of all of businesses).
Proparco participates in the financing of the construction and operation of 5 solar photovoltaic power plants delivering a total of 225MW of capacity for a total amount of €116 million. Through these operations, Proparco will contribute to prevent the emission of more than 3.8 million tons of CO2 and to the creation of more than 7,000 direct and indirect jobs.
This €25M funding facility will allow 49,000 new low-income housing units to be built by 2023 in priority urban development areas. This funding includes a €10M sub-participation from AFD, Proparco's parent company.
To help Cameroon handle the major challenge posed by waste management, SOCIÉTÉ GÉNÉRALE CAMEROUN, ECOBANK and BICEC have just granted a loan – backed up by a guarantee provided by PROPARCO – to HYSACAM that will help renew its fleet of over 200 trucks in order to improve waste collection services in cities throughout the country.
Proparco and FMO commit USD 30 million to Banque Populaire du Rwanda (part of Atlas Mara Group) to support the Rwandan private sector
Proparco and FMO, respectively the French and Dutch Development Finance Institutions, signed a USD 30 million loan to Banque Populaire du Rwanda (BPR), with both providing USD 15 million each. Proparco has acted as the mandated lead arranger of the USD 30 million credit facility.